First Horizon Advisors Inc. Increases Stake in The J. M. Smucker Company (NYSE:SJM)

First Horizon Advisors Inc. lifted its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 30.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,102 shares of the company’s stock after buying an additional 254 shares during the quarter. First Horizon Advisors Inc.’s holdings in J. M. Smucker were worth $134,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Probity Advisors Inc. grew its holdings in J. M. Smucker by 1.1% during the 3rd quarter. Probity Advisors Inc. now owns 8,791 shares of the company’s stock worth $1,065,000 after acquiring an additional 96 shares in the last quarter. Anchor Investment Management LLC lifted its position in shares of J. M. Smucker by 0.5% during the 2nd quarter. Anchor Investment Management LLC now owns 19,791 shares of the company’s stock worth $2,158,000 after purchasing an additional 99 shares during the last quarter. State of Michigan Retirement System grew its stake in shares of J. M. Smucker by 0.3% during the second quarter. State of Michigan Retirement System now owns 33,561 shares of the company’s stock worth $3,659,000 after purchasing an additional 100 shares in the last quarter. Romano Brothers AND Company increased its holdings in J. M. Smucker by 3.5% in the third quarter. Romano Brothers AND Company now owns 2,987 shares of the company’s stock valued at $362,000 after buying an additional 100 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in J. M. Smucker by 11.0% in the third quarter. Blue Trust Inc. now owns 1,032 shares of the company’s stock valued at $125,000 after buying an additional 102 shares in the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

J. M. Smucker Stock Down 0.5 %

Shares of NYSE:SJM opened at $113.30 on Friday. The J. M. Smucker Company has a 1-year low of $105.69 and a 1-year high of $134.62. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25. The stock has a market cap of $12.06 billion, a P/E ratio of 16.03, a P/E/G ratio of 3.19 and a beta of 0.25. The firm has a fifty day moving average price of $116.57 and a 200 day moving average price of $115.53.

J. M. Smucker (NYSE:SJM) last announced its earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.27. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.21 earnings per share. Sell-side analysts predict that The J. M. Smucker Company will post 9.79 EPS for the current year.

J. M. Smucker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Friday, November 15th. J. M. Smucker’s dividend payout ratio (DPR) is presently 61.10%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Barclays lowered their price objective on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a research report on Friday, August 30th. StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. DA Davidson reissued a “neutral” rating and set a $121.00 price objective on shares of J. M. Smucker in a report on Thursday, August 29th. Citigroup lowered their target price on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, TD Cowen cut their price target on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $127.09.

About J. M. Smucker

The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in three segments: U.S. Retail Pet Foods, U.S. Retail Coffee, and U.S. Retail Consumer Foods. The company offers mainstream roast, ground, single serve, and premium coffee; peanut butter and specialty spreads; fruit spreads, toppings, and syrups; jelly products; nut mix products; shortening and oils; frozen sandwiches and snacks; pet food and pet snacks; and foodservice hot beverage, foodservice portion control, and flour products, as well as dog and cat food, frozen handheld products, juices and beverages, and baking mixes and ingredients.